{"id":17421,"date":"2021-05-01T14:00:48","date_gmt":"2021-05-01T08:30:48","guid":{"rendered":"https:\/\/itatonline.org\/digest\/dit-e-v-raunaq-education-foundation-2021-431-itr-52-sc-2\/"},"modified":"2021-10-08T13:38:36","modified_gmt":"2021-10-08T08:08:36","slug":"dit-e-v-raunaq-education-foundation-2021-431-itr-52-sc-2","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/dit-e-v-raunaq-education-foundation-2021-431-itr-52-sc-2\/","title":{"rendered":"DIT (E) v . Raunaq Education Foundation (2021) 431 ITR 52  199 DTR 344\/ 319 CTR 660\/ 278 Taxman 186 (SC)"},"content":{"rendered":"<p>The High Court held that the words derived from or some other similar words do not occur in section\u00a010(22)\u00a0of the\u00a0Income-tax Act, 1961\u00a0, that, therefore, the word income as occurring in section\u00a010(22)\u00a0cannot be given a restrictive meaning and must be given its natural meaning or the meaning ascribed to it in section\u00a02(24)\u00a0, and that hence, an assessee who is entitled to exemption under section\u00a010(22)\u00a0can claim the benefit thereof for the purpose of income deemed to be chargeable to tax under section\u00a068\u00a0. On appeal \u00a0\u00a0Supreme Court\u00a0 dismissed the appeal on the ground of low tax effect, keeping the question of law open.( AY. 1987-88, 1998-99)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S.10(22): Educational institution- Derived from &#8211; Deemed income assessed as cash credits whether entitle to exemption \u2013 Appeal dismissed due to low tax effect \u2013 Question left open [ S. 2( 24), 68 ] <\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[],"class_list":["post-17421","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-4wZ","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/17421","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=17421"}],"version-history":[{"count":2,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/17421\/revisions"}],"predecessor-version":[{"id":22265,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/17421\/revisions\/22265"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=17421"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=17421"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=17421"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}